Value and beauty are only the opinion of the person who is buying it/wearing it.
Just like I find those LV bags and such to be such ugly creations, yet my family loves to walk around showing them off talking about how beautiful they are. While I sit there and plaster a fake smile on my face and nod.
But then again, when I wear my amber stones, to me they hold such value and beauty, yet to others they are cheap and they would never buy them because they are not as valuable as other stones. Yet, no one denies their beauty.
Beauty and value are worth only as much as you buy into it. If it is all the rage it is only so because someone thinks it is- or they ran out of other things to try to pimp to sheep readers. Or they paid someone to put them in the media.
When it boils down to it all, I think diamonds are kind of ugly and prefer crystal to diamonds.